the yes factor: how to persuade business buyers to say yes

Download The YES Factor: How to persuade business buyers to say yes

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A new behavioural economics Slideshare from Earnest exploring why b2b buyers are less rational than you think - and why the micro-yesses matter more than ever. Get the Yes Factor.

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  • 1. In B2B marketing,were in the business ofPERSUASIONwww.earnest-agency.comImage: Unsplash.com

2. Everyday we persuade people we oftenwww.earnest-agency.comdont know to:Open ouremailsVisit ourwebsitesDownload ourwhite papersWatch ourvideosFollow us onTwitterAnd even once in a while, buy somethingfrom us. 3. www.earnest-agency.comIts all aboutpersuadingpeople to say YESImage: Flickr 4. www.earnest-agency.comThe thing is:The buyers pipeline requires aseries of micro-yesses beforegetting to that macro yes.YES[Brandon Stamschrar, MECLABS] 5. www.earnest-agency.comSo whatmakes peoplesay YES?Image: Earnest 6. www.earnest-agency.comEach micro yes is aboutperceived value v perceived cost.[Brandon Stamschrar, MECLABS] 7. www.earnest-agency.comBut when making micro-yessesbuyers dont:Evaluate all the optionsInvestigate each option fullyApply everything they knowAssign a value and cost toeach optionImage: Unsplash 8. Because> They havent got the time> Theyre subject to biases> Theyre stifled by choice> Theyre inherently lazy thinkerswww.earnest-agency.comAnd thebig one:THEYHATERISKImage: Flickr 9. When making any choice our first instinct is notwww.earnest-agency.comto choose the best answerbut the answer which minimises the harm wepersonally can suffer in the worst case outcome.[John Von Neumann via Rory Sutherland] 10. www.earnest-agency.comOthers call thisSATISFICING(To Satisfy + Suffice)CHANCE Where buyers opt for thelow risk, easy solutionrather than searching forthe best possible solution.Nothanks 11. www.earnest-agency.comAnd theyre noteven aware of it.Because 85% ofdecisions are madeby the unconsciouspart of thebrain.[Martin Lindstrom,Buyology]Image: Flickr 12. www.earnest-agency.comIt means the micro-yesseseven for thebiggest decisionsImage: Unsplash.com 13. www.earnest-agency.comSo the big question iswhat makes business buyers morelikely to say? 14. Essentially, we need to beaware of how people thinkbecause it influences howthey make decisions.www.earnest-agency.comImage: Shutterstock 15. www.earnest-agency.comThere are two ways:FAST&SLOW[ThanksDanielKahneman] 16. www.earnest-agency.comFASTAka. System 1 orAutopilot Operates automatically Assesses whats going onin our environment Determines whether weshould direct moreattention to a taskImage: Unsplash.com 17. It helps us makeSNAP JUDGEMENTSServing asOUR FILTER OF THE WORLDP.SIt also determineswhether buyers payattention to yourcommunicationsor not ** Unfortunately typically not 18. Because without it, thingslike this would kill us.www.earnest-agency.comImage: Unsplash.com 19. SLOWwww.earnest-agency.comAnd thentheres theother way ofthinkingAka. System 2or PilotImage: Unsplash.com 20. www.earnest-agency.comTHETHINGSSYSTEMONEFINDSHARDTOPROCESS[OUCH] 21. It means System 2 requires:ATTENTIONEFFORT 22. But remember werewww.earnest-agency.comLAZY THINKERS(you, me & even your buyers)so we try to make our liveseasier by substitutingdifficult questions withsimpler onesImage: Shutterstock 23. www.earnest-agency.comSo when itcomes to askingthe question:Which of theseservice providerswill do the bestjob?Buyers canend upasking:Which of thesesales people do Ilike the best?Which of thesebrands will myboss have heardof?Isnt it easier to gowith the guys wevealways used?Image: Flickr 24. SYSTEM 2As B2B marketerswe tend to design forSystem 2, but itsPOINTLESSif we never breakthrough System 1.Score:000 25. Especially when in most cases, people makedecisions like thisSystem 1AutopilotSystem 2PilotInput Decision 26. www.earnest-agency.comThe fact is even if yousell something thatsBIG,COMPLEX andCONSIDEREDyouve got to breakthrough their System 1.Image: Unsplash.com 27. www.earnest-agency.comBecause if they dont:Open your emailsDownload your contentAttend your eventsTake your callsTheMicro-YessesYoure being filtered out 28. You need to makefirst impressionscountHow long have you got?Ad in popular magazines 1.7 secsAd in trade journals 3.2 secsPoster 1.5 secsMailing 2 secsBanner ad 1 secwww.earnest-agency.com[Via Phil Barden, Decoded]Image: Unsplash.com 29. www.earnest-agency.comSo how do youmake the cut?EASY does itImage: Unsplash.com 30. www.earnest-agency.comMake it easy for buyersso you secure that micro-yesEVERY TIME 31. www.earnest-agency.comBecause if you make it easytheyre more likely to Likewhat they see andBELIEVEwhat you have to say 32. As the easiest thing in the world forthem is to:DONOTHING[Some call this Status Quo bias the fact is most people just hatechange]Image: Unsplash.com www.earnest-agency.com 33. www.earnest-agency.comCOMPLEX =COGNITIVE STRAIN=HARDER TO UNDERSTAND =PAINFUL= HIGHER PERCEIVEDRISK 34. Feels goodwww.earnest-agency.comWhat does EASY look like?EASEFeels familiarFeels trueFeels effortlessRepeated experienceClear displayPrimed ideaGood mood[Causes and Consequences of Cognitive Ease: Thinking, Fast and Slow] 35. www.earnest-agency.comAnd this is whereBRANDING pays dividendsImage: Unsplash.com 36. www.earnest-agency.comIts all aboutbuildingFAMILIARITY andFAVOURABILITY[See its not going to kill you this time]Image: Unsplash.com 37. And its why we prefer brandswww.earnest-agency.comwe KNOWrather thanbrands weveNEVER heard of before 38. www.earnest-agency.comBecause the thingswe areMORE FAMILIARwith areEASIER TO PROCESSThe experience of familiarity hasa simple but powerful quality ofpastness that seems to indicatethat it is a direct reflection of priorexperience.[Larry Jacoby]Image: Unsplash.com 39. www.earnest-agency.comAnd simply beingEXPOSED to oneBRAND more thananother can have thedesired effect.BRANDBRANDBRANDBRANDBRANDBRANDBRANDBRANDBRAND 40. Research shows thatpeople tend to develop aPREFERENCEfor things simply becausewww.earnest-agency.comResearch shows thatpeople tend to develop aPREFERENCEfor things simply becausethey are morefamiliar with them.** The Mere Exposure Effect[Robert Zajonc]they are morefamiliar with them.** The Mere Exposure Effect[Robert Zajonc] 41. www.earnest-agency.comNovel stimulus leads to afear and avoidance response.But withREPEATED EXPOSURE,the stimulus causes less fear.We even react fondly to it.[Often without knowing it.] 42. Yet know one knows you.[Even the one with the half baked offer.] 43. www.earnest-agency.comThe thing is in B2B,brands are just aboutequal in INFLUENCEand only just behind priceand product.Strong brandsoutperform weakbrands by 20%.[McKinsey]Image: Unsplash 44. This is where your contentmarketing, search and socialmedia strategy could paydividends.www.earnest-agency.comCANTAFFORD ABIG BRANDCAMPAIGN?Making you visible. Useful.Relevant.Increasing your exposure.Reducing cognitive strain.Image: Flickr 45. What other ways can you make it EASY for buyers?Make yourmessagesimple forbuyers tounderstandIf you want to beseen as credibleand intelligent,dont usecomplexlanguage whensimpler languagewill do.[Want scientific proof?Check out Consequences of EruditeVernacular Utilized Irrespective ofNecessity:Problems with Using LongWords Needlessly by DannyOppenheimer]JARGON 46. Dontoverload yourbuyers withtoo manyoptions.Too much choiceis the same as nochoice at all.[Barry Schwarz]Aka.Paradox of Choice 47. Be relevant.Information that standsout - and is novel andsalient - is more likelyto affect the way abuyer thinks and acts.[P Dolan, Mindspace] 48. Ensure a seamlessjourney for buyers,every step of the way.XXXLet peopleaccomplish tasks aseasily and directlyas possible.[Dont make me think: Steve Krug] 49. www.earnest-agency.comAnd get to theof whats really motivatingpeople to buy from you 50. www.earnest-agency.comBecause theyre sure as hell not buyingyour products or services for the sake of it.Theyre a means to an end.To understand peopleone needs tounderstand what leadsthem to act as they do,and to understandwhat leads them to actas they do one needs toknow their goals.[Motives and Cultural Models, edited byRoy G. D'Andrade, Claudia Strauss]Image: Unsplash.com 51. And that end isultimately aboutconvincing them youcan satisfy their goalsmore effectively thanyour rivals.www.earnest-agency.com.EXPLICIT&IMPLICITImage: Unsplash.com 52. www.earnest-agency.comThink of them like thisEXPLICITgoalsIMPLICITgoalsCATEGORYSPECIFICDRIVEN BYORGANISATIONNEED TO DEMONSTRATE YOUCAN SATISFY THESE GOALS INORDER TO COMPETEBUYERSPECIFICDRIVEN BYINDIVIDUALUSE TO DEMONSTRATEYOUR OFFER AND BOOSTYOUR APPEAL 53. As B2B Marketers we tend to focus on the explicit goals.www.earnest-agency.comBut theresonly so farpromising to:Transform their businessDeliver greater efficiencyLower costImprove productivityIncrease revenueDemonstrate ROI& all that jazz willtake you* Delete as appropriate* 54. www.earnest-agency.comEspecially when every other chancerin your market is professing to doMUCH THE SAMEAlbeit it a slightly different way.Image: Unsplash.com 55. www.earnest-agency.comThats where being able tosatisfy not only their explicitbut also their implicit goalscan pay dividends.The stuff that motivatespeople PERSONALLY(whether they know it or not)Image: Unsplash.com 56. www.earnest-agency.comSo what do these implicit goals look like?Researchshows thereare two basicmotivationaldriversPROMOTIONEmphasis => Gaining> BenefitingPREVENTION > Progressing in some wayEmphasis => Avoiding loss> Protecting status quo> Living up to expectation 57. Think about where your audienceIt provides theirFRAME OF REFERENCEand determines whether itsbest to position what you have tooffer as avoiding loss or gain.www.earnest-agency.comis starting from.Whats their anchor point? 58. www.earnest-agency.comHow can this inform the wayyou THINK about youraudienceImage: Unsplash.com 59. Adding another dimension to your personas thatcan help inform and shape yourwww.earnest-agency.commessaging,campaign& content strategies?Image: Unsplash.com 60. Implicit goals Primary driver